MIRA INFORM REPORT
|
Report No. : |
356984 |
|
Report Date : |
25.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
ZYDUS
HOSPIRA ONCOLOGY PRIVATE LIMITED (w.e.f.12.10.2007) |
|
|
|
|
Formerly Known
As : |
ZYDUS MAYNE ONCOLOGY PRIVATE LIMITED |
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|
|
Registered
Office : |
Plot No.3, Pharmez, Special Economic Zone, |
|
Tel. No.: |
91-2717-663000 / 663211 / 196 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
13.06.2005 |
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|
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|
Com. Reg. No.: |
04-046246 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.150.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230GJ2005PTC046246 |
|
|
|
|
IEC No.: |
0806000406 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMZ00175A |
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|
|
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PAN No.: [Permanent Account No.] |
AAACZ2327A |
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|
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of pharmaceutical products.
(Confirmed by management) |
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|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a Joint Venture between Cadila Healthcare Limited and
Hospira Austria Pty Limited. The company has healthy scale of operations marked by diversified
revenue profile along with decent profitability margin of 34.3% in the FY-15. The company possesses strong financial position marked by adequate net
worth position along with negligible debts. It has established market
position along with extensive experience of its promoters. Further, on September 3, 2015, Pfizer Inc completed the acquisition of
Hospira and Hospira now continues as a subsidiary of Pfizer Inc. Trade relations are fair. Business is active. Payments are regular and
as per commitments. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = AA- |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
September 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
September 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Divyesh Bhatt |
|
Designation : |
Senior Executive in Finance |
|
Contact No.: |
91-2717-663000 |
|
Date : |
24.12.2015 |
LOCATIONS
|
Registered Office : |
Plot No.3, Pharmez, Special Economic Zone, |
|
Tel. No.: |
91-2717-663000 / 663211 / 196 |
|
Mobile No.: |
91-9724307940 (Mr. Jayesh) |
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Fax No.: |
91-2717-663100 |
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E-Mail : |
|
|
Area : |
3866 Sq. Mt. |
|
Location : |
Leased |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Ganesh N. Nayak |
|
Designation : |
Director |
|
Address : |
3, Ashwamegh Part V, |
|
Date of Birth/Age : |
18.05.1955 |
|
Date of Appointment : |
24.01.2006 |
|
DIN No. : |
00017481 |
|
|
|
|
Name : |
Mr. Nitinkumar Dalsukhray Parekh |
|
Designation : |
Director |
|
Address : |
A-3, Aryaman Bungalows, Near Railway Crossing, Thaltej – Shilaj Road,
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
09.02.1961 |
|
Date of Appointment : |
11.02.2014 |
|
DIN No. : |
00155570 |
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|
|
|
Name : |
Mr. Shirtishkumar G. Belapure |
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Designation : |
Director |
|
Address : |
3, Amramanjari Bungalow, Opposite Chitvan Plor, |
|
Date of Birth/Age : |
19.07.1953 |
|
Date of Appointment : |
16.07.2008 |
|
DIN No. : |
02219458 |
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|
|
|
Name : |
Andrew David Chatfield |
|
Designation : |
Director |
|
Address : |
8, Thirlmere Crescent, Church Crookham, Hampshire, GU526RT, United Kingdom |
|
Date of Appointment : |
02.03.2015 |
|
DIN No.: |
07086776 |
|
|
|
|
Name : |
Balasubramanian Srinivasan |
|
Designation : |
Additional Director |
|
Address : |
Rainenweg 136, Reinach BL, 4153, Switzerland |
|
Date of Appointment : |
04.08.2015 |
|
DIN No.: |
07121117 |
|
|
|
|
Name : |
Mr. Vikramkumar Brijesh Shukla |
|
Designation : |
Whole-Time Director |
|
Address : |
G-301, Safal Parivesh, Near. Prahladnagar Garden, Prahladnagar, Satellite, Ahmedabad, 380015, Gujarat, India |
|
Date of Appointment : |
04.08.2015 |
|
DIN No.: |
07241477 |
|
|
|
|
Name : |
Mr. John Francis Kelly |
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Designation : |
Additional Director |
|
Address : |
300 Flintlock Road, Southport, Connecticut, 06890, United States of America |
|
Date of Appointment : |
03.11.2015 |
|
DIN No.: |
07328087 |
|
|
|
|
Name : |
Evert Bernardus Schimmelpennink |
|
Designation : |
Additional Director |
|
Address : |
404 Glen Avenue, Lake Bluff, Illinois, 60044, United States of America |
|
Date of Appointment : |
03.11.2015 |
|
DIN No.: |
07330096 |
KEY EXECUTIVES
|
Name : |
Mr. Divyesh Bhatt |
|
Designation : |
Senior Executive Finance |
|
|
|
|
Name : |
Mr. Umesh Vinodchandra Parikh |
|
Designation : |
Vice President-Finance and Company Secretary |
|
Address : |
B-7, Jineshwar Nagar Part-I, Near Gyanjyot School, Ranna Park, Ghatlodia,
Ahmedabad – 380061, Gujarat, India |
|
Date of Birth/Age : |
27.05.1968 |
|
Date of Appointment : |
17.11.2005 |
|
PAN No.: |
ACCPP4496R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 01.08.2014
|
Names of Shareholders |
No. of Shares |
%age holding |
|
Hospira Australia Pty Limited, Australia |
7500000 |
50.00 |
|
Cadila Healthcare Limited, India |
7500000 |
50.00 |
|
Total |
15000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 01.08.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
50.00 |
|
Bodies corporate |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of pharmaceutical products.
(Confirmed by management) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit (30 / 90 Days) |
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Purchasing : |
Cash, L/C and Credit (30 / 90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
400 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st,
Floor, Apollo mills compound, N M Joshi Marg, Mahalaxmi, Mumbai – 400011,
Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB9852F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Joint venture: |
Cadila Healthcare Limited, India L24230GJ1995PLC025878 |
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Million |
|
5000 |
|
Rs. 100000/-each |
Rs.500.000 Million |
|
|
|
|
Rs. 650.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Million |
||
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|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
150.000 |
150.000 |
150.000 |
|
(b) Reserves & Surplus |
3284.370 |
3088.810 |
2859.830 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
3434.370 |
3238.810 |
3009.830 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
44.610 |
18.690 |
0.000 |
|
(c) Other long term
liabilities |
1.790 |
5.960 |
1.280 |
|
(d) long-term provisions |
15.840 |
8.570 |
7.560 |
|
Total
Non-current Liabilities (3) |
62.240 |
33.220 |
8.840 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
156.200 |
0.000 |
0.000 |
|
(b) Trade payables |
667.590 |
245.330 |
113.550 |
|
(c) Other current liabilities |
26.030 |
24.410 |
31.580 |
|
(d) Short-term provisions |
7.540 |
1304.780 |
3952.650 |
|
Total
Current Liabilities (4) |
857.360 |
1574.520 |
4097.780 |
|
|
|
|
|
|
TOTAL |
4353.970 |
4846.550 |
7116.450 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
790.190 |
656.520 |
646.020 |
|
(ii) Intangible Assets |
8.120 |
6.120 |
7.090 |
|
(iii) Capital work-in-progress |
332.350 |
501.610 |
113.010 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
582.990 |
565.530 |
77.610 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1713.650 |
1729.780 |
843.730 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
10.750 |
375.480 |
1596.330 |
|
(b) Inventories |
1292.250 |
1212.460 |
533.700 |
|
(c) Trade receivables |
1228.750 |
728.530 |
1298.450 |
|
(d) Cash and cash equivalents |
93.620 |
724.030 |
2816.690 |
|
(e) Short-term loans and
advances |
10.950 |
15.410 |
14.520 |
|
(f) Other current assets |
4.000 |
60.860 |
13.030 |
|
Total
Current Assets |
2640.320 |
3116.770 |
6272.720 |
|
|
|
|
|
|
TOTAL |
4353.970 |
4846.550 |
7116.450 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
3410.500 |
4299.110 |
|
|
|
Other Income |
64.590 |
250.850 |
|
|
|
TOTAL
(A) |
3475.090 |
4549.960 |
6882.500 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1445.530 |
1556.830 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(86.090) |
(33.980) |
|
|
|
Employees benefits expense |
138.470 |
108.080 |
|
|
|
CSR Expenditure |
75.950 |
0.000 |
|
|
|
Other expenses |
267.480 |
203.370 |
|
|
|
TOTAL
(B) |
1841.340 |
1834.300 |
2151.350 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
1633.750 |
2715.660 |
4731.150 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.660 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1633.090 |
2715.660 |
4731.150 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
88.130 |
83.230 |
80.670 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
1544.960 |
2632.430 |
4650.480 |
|
|
|
|
|
|
|
Less |
TAX (H) |
349.090 |
34.300 |
930.620 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
1195.870 |
2598.130 |
3719.860 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
1411.280 |
1442.110 |
2042.810 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Interim Dividend to Equity
Shareholders |
855.000 |
915.000 |
0.000 |
|
|
Distribution Tax on Interim
Dividend to the Equity Shareholders |
145.310 |
155.510 |
0.000 |
|
|
Proposed Dividend to Equity
Shareholders |
0.000 |
1110.000 |
3375.000 |
|
|
Distribution Tax on Proposed Dividend
to the Equity Shareholders |
0.000 |
188.640 |
573.580 |
|
|
Transferred to General reserve |
0.000 |
259.810 |
371.980 |
|
|
Transferred to Capital
Redemption reserve |
0.000 |
0.000 |
0.000 |
|
|
Total
(M) |
1000.310 |
2628.960 |
4320.560 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
1606.840 |
1411.280 |
1442.110 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2972.370 |
4879.500 |
7032.240 |
|
|
TOTAL
EARNINGS |
2972.370 |
4879.500 |
7032.240 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
79.72 |
173.21 |
247.99 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
1515.410 |
2611.850 |
4937.190 |
|
Net cash flow from operating activity |
1172.300 |
2042.330 |
3904.3.20 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
35.06 |
60.43 |
54.05 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
47.90 |
63.17 |
68.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
38.42 |
60.59 |
66.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45 |
0.81 |
1.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.05 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.08 |
1.98 |
1.53 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
150.000 |
150.000 |
150.000 |
|
Reserves & Surplus |
2859.830 |
3088.810 |
3284.370 |
|
Net
worth |
3009.830 |
3238.810 |
3434.370 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
156.200 |
|
Total
borrowings |
0.000 |
0.000 |
156.200 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.045 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
6882.500 |
4549.960 |
3475.090 |
|
|
|
(33.891) |
(23.624) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
6882.500 |
4549.960 |
3475.090 |
|
Profit |
3719.860 |
2598.130 |
1195.870 |
|
|
54.05% |
57.10% |
34.41% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from Zydus Tower Satelite Crsoo Road, Sarkhej, Gandhi Nagar, Highway, Ahmedabad - 380015, Gujarat, India to the present address w.e.f. 19.07.2007
BACKGROUND
Zydus Hospira Oncology Private Limited (the Company) is a Joint Venture between Cadila Healthcare Limited and Hospira Australia Pty Limited, incorporated in Australia. The Company is manufacturing anti-cancer formulations in Pharmez, Special Economic Zone near Ahmedabad. The Company had started the commercial production on 1 May 2009.
OPERATIONS AND
BUSINESS PERFORMANCE
During the year which is the Seventh year of commercial operations, the Company has achieved sales of INR 3,410.50Mn. Export Sales of the Company is 99.47% of the total sales of the Company. Net profit after tax is INR 1,195.87Mn.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10541626 |
15/12/2014 |
250,000,000.00 |
The Hongkong and Shanghai Banking Corporation Limited |
IndiaBulls Finance Centre, Tower III- 26th Floor |
C39777511 |
|
2 |
10518982 |
26/08/2014 |
600,000,000.00 |
ICICI Bank Limited |
9th Floor, JMC House, Opp. Parimal Garden, Ambawadi, Ahmedabad,
Gujarat - 380006, INDIA |
C19737519 |
|
3 |
10211370 |
11/09/2014 * |
300,000,000.00 |
Standard Chartered Bank |
ABHIJEET II, NEAR MITHAKHALI CROSS ROADS, AHMEDABAD, Gujarat - 380006,
INDIA |
C22843486 |
FIXED ASSETS
- Land
- Buildings
- Residential building
- Office building
- Factory building
- Furniture and fixtures
- plant and equipment
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
|
1 |
Rs.98.29 |
|
Euro |
1 |
Rs.72.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
69 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.